Mongolia’s Finance Minister B. Javkhlan recently met with the newly appointed International Monetary Fund (IMF) Resident Representative in Mongolia, Tigran Poghosyan, who is on a two-week study visit in the country. During the meeting, the two sides discussed the current economic situation in Mongolia and the intensification of cooperation between the IMF and Mongolia, as well as future activities.
Yoon Seok Hyun, the current IMF Resident Representative in Mongolia, will conclude their term in early July of this year. Tigran Poghosyan, who previously served as the IMF Resident Representative in Kyrgyzstan, will take over and work in Mongolia for three years.
This meeting comes as Mongolia continues to deal with the economic impact of the COVID-19 pandemic. In 2020, Mongolia received financial assistance from the IMF to address immediate balance of payments needs and support crisis response measures. The IMF also emphasized the need for structural reforms to support long-term economic growth and sustainable development.
The IMF has been working closely with the Mongolian government in recent years to support economic stability and growth. The visit by Tigran Poghosyan is a sign of the IMF’s continued commitment to Mongolia’s economic development, and the two sides are expected to continue their cooperation in the years to come.